Hoa Phat has posted revenue and post-tax profit gains of nearly 27.6 trillion (over 1.19 billion USD) and over 4.4 trillion VND (190 million USD) in the first half of 2018, representing rises of 30 percent and 27 percent from the same period last year, respectively.
Hoa Phat has posted revenue and post-tax profit gains of nearly 27.6 trillion VND in the first half. (Photo: thephoaphat.org)
Hanoi (VNA) - ๊Hoa Phat has postedrevenue and post-tax profit gains of nearly 27.6 trillion VND (over 1.19 billionUSD) and over 4.4 trillion VND (190 million USD) in the first half of 2018,representing rises of 30 percent and 27 percent from the same period last year,respectively.
The results mean that the grouphas already completed 55 percent of its annual profit target of 55 trillion inrevenue and 8.05 trillion VND in after-tax profit this year.
In the second quarter alone, Hoa Phat’s revenue hit over 14.4 trillion VND(over 621.5 million USD), while its post-tax profit stood at 2.2 trillion VND(94.9 million USD), a respective 34 percent and 43 percent higher than those ofthe corresponding period last year.
The firm produced 1.1million tonnes of construction steel in the firstsix months, a slight increase from the same period last year.
Hoa Phat has still maintainedits leading position in the country’s steel industry with a market share of22.2 percent as its products are mostly consumed domestically.
🐭 Its high-quality wire rod steel products have continued to receive orders fromboth inside and outside the country. It sold a total of 116,00 tonnes of thisproduct, including 58,000 tonnes to Australia, Japan, Malaysia, and thePhilippines, accounting for more than half of its export volume.-VNA
Hoa Phat Group, a major industrial production group in Vietnam, manufactured 542,000 tonnes of steel in the first quarter of 2018, up nearly 10 percent year on year.
The process of the Hoa Phat Dung Quat iron and steel production complex project is on schedule with the first line expected to be operational in the third quarter of this year, meeting demands of the central and southern regions.
A delegation of investors from the Republic of Korea (RoK) has visited Hoa Phat Group, one of the three largest steel producers in Vietnam, to seek partnership opportunities.
The Hoa Phat Dung Quat Steel JSC has announced that it will apply SAP S/4HANA, a next-generation enterprise resource planning (ERP) software, for its iron and steel production complex.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
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Hoa Phat has posted revenue and post-tax profit gains of nearly 27.6 trillion VND in the first half. (Photo: thephoaphat.org) 
